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Chorus Aviation provides update on benchmarking arbitration timing

HALIFAX, May 3, 2013 /CNW/ - Chorus Aviation Inc. ("Chorus") (TSX: CHR.B CHR.A CHR.DB) today provided an update on the expected timing of the arbitration
relating to the benchmarking provisions in the Capacity Purchase
Agreement ('CPA') with Air Canada.

On February 20, 2013 Chorus confirmed the next hearing before the
arbitration panel would take place in April 2013. The hearing occurred
as scheduled, but the parties did not complete their respective
submissions within the time available. As a result, further hearing
dates have been scheduled for July 2013 and a date for oral argument in
September 2013.

"The benchmarking arbitration is proving to be an extended process that
unfortunately won't likely be concluded before the fourth quarter of
this year," said Joe Randell, President and Chief Executive Officer,
Chorus. "We remain confident in our position that the controllable
mark-up of 12.5% in our Capacity Purchase Agreement with Air Canada
should not change as a result of this benchmarking exercise. While
this process is outside of our control, we continue to believe this
period of uncertainty will result in a positive conclusion."

Caution regarding forward-looking information

Certain statements in this news release may contain statements which are
forward-looking. These forward-looking statements are identified by the
use of terms and phrases such as "anticipate", "believe", "could",
"estimate", "expect", "intend", "may", "plan", "predict", "project",
"will", "would", and similar terms and phrases, including references to
assumptions. Such statements may involve but are not limited to
comments with respect to strategies, expectations, planned operations
or future actions.

Forward-looking statements relate to analyses and other information that
are based on forecasts of future results, estimates of amounts not yet
determinable and other uncertain events. Forward-looking statements, by
their nature, are based on assumptions, including those described
below, and are subject to important risks and uncertainties. Any
forecasts or forward-looking predictions or statements cannot be relied
upon due to, amongst other things, changing external events and general
uncertainties of the business. Such statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements to differ materially from
those expressed in the forward-looking statements. Results indicated in
forward-looking statements may differ materially from actual results
for a number of reasons, including without limitation, risks relating
to Chorus' relationship with Air Canada, risks relating to the airline
industry, energy prices, general industry, market, credit, and economic
conditions, competition, insurance issues and costs, supply issues,
war, terrorist attacks, epidemic diseases, acts of God, changes in
demand due to the seasonal nature of the business, the ability to
reduce operating costs and employee counts, secure financing, employee
relations, labour negotiations or disputes, restructuring, pension
issues, currency exchange and interest rates, leverage and restructure
covenants in future indebtedness, dilution of Chorus shareholders,
uncertainty of dividend payments, managing growth, changes in laws,
adverse regulatory developments or proceedings, pending and future
litigation and actions by third parties. The forward-looking statements
contained in this discussion represent Chorus' expectations as of May
3, 2013, and are subject to change after such date. However, Chorus
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required under applicable
securities regulations.

About Chorus Aviation Inc.

Chorus Aviation Inc. ("Chorus") was incorporated on September 27, 2010
and is a dividend-paying holding company which owns Jazz Aviation LP,
and Chorus Leasing III Inc.

Chorus is traded on the Toronto Stock Exchange under the trading symbols
of CHR.A, CHR.B and CHR.DB.